SLID and Matale District Chamber conduct programme for SMES

Small businesses in emerging markets generally rely heavily on a few talented people—most often the founders, who dominate the decisionmaking process. The commandcontrol system is common, strategic and operational decisions occur informally, and there are very few written policies.

If such companies are well governed, with sound corporate governance principles in place, they will usually outperform other companies and will be able to access different forms of financing easier to help further growth.

As part of its initiative, started over 5 years ago, to strengthen SMES throughout the island and promote good governance, the Sri Lanka Institute of Directors (SLID) partnered with the Matale District Chamber of Commerce, Industry and Agriculture (MDCCIA) to conduct a programme recently, at no cost to the participants, on ‘Conducting Business Responsibly: improving business efficiency and productivity’. The programme was well attended with over 50 entrepreneurs in the district.

This was the first time that SLID included a separate session for women entrepreneurs which dealt with building self-confidence and a support network, balancing business and family life, and with dealing with limited access to funding.

The programme facilitator was Dr. Sulochana Segera. Her practical advice was well received by the participants who were interested in learning more on how to build and manage their businesses.

These participants were joined by their male counterparts for the second session which explored the need for corporate governance in SMES and how it could secure and grow their business. K. N. Mahendra, President MDCCIA welcomed all the participants and gave a brief introduction to the work that the Chamber had recently embarked on and thanked SLID for partnering with them on this programme.

Chamindā de Silva, Chief Executive Officer of SLID delivered the session on the business case for corporate governance in small companies and whether SMES need a Board of Directors and the role of the Board in small companies. Saman Rasaputhra, Chief Executive Officer, Green Lanka Trading (Pvt) Ltd and Former Partner, KPMG Matara, a long associate of this programme, conducted the session on Financial Plans, monitoring small company financial health, and raising capital. There were many questions from the participants and as this was an awareness programme the facilitators could not go into depth but requested the Chamber to conduct follow up workshops.

“We are thankful to the Matale Chamber for organising the event and for the quality of participants invited to attend. I believe that we were successful in our programme where we have raised awareness of how governance in their business – however, small it is – can help them manage and grow it” said Chamindā de Silva, Chief Executive Officer of SLID.

This year too SLID plans to continue its efforts spreading the message throughout the island.